Stephens Inc. AR Has $7.86 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Stephens Inc. AR decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 42,505 shares of the financial services provider’s stock after selling 900 shares during the quarter. Stephens Inc. AR’s holdings in The PNC Financial Services Group were worth $7,857,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd bought a new stake in The PNC Financial Services Group in the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its holdings in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in The PNC Financial Services Group in the second quarter worth $822,000. Equity Investment Corp boosted its holdings in The PNC Financial Services Group by 3.4% in the first quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP boosted its holdings in The PNC Financial Services Group by 108.5% in the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after purchasing an additional 10,743 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PNC shares. UBS Group upped their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Barclays upped their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Stock Down 0.6 %

Shares of PNC opened at $187.15 on Friday. The company has a 50-day simple moving average of $183.94 and a 200-day simple moving average of $169.34. The firm has a market capitalization of $74.39 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52 week low of $114.51 and a 52 week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.60 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.42%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the completion of the transaction, the chief executive officer now owns 544,765 shares of the company’s stock, valued at $103,652,436.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $190.27, for a total transaction of $236,315.34. Following the sale, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at approximately $103,652,436.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,279 shares of company stock valued at $2,418,591 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.